Good evening everyone, I just got home and checked my mailbox. Inside, there was a letter from Chase with details about upcoming changes to the Chase Ink Bold Business Charge Card, effective August 31, 2015. Here is the summary of both changes:
- Currently, the Chase Ink Bold is a charge card, meaning you must pay your balance in full, otherwise you will be charged a fee. The new Chase Ink Bold will allow you to pay your balance over time (instead of being charged a fee, you will instead pay interest on any balance that is not paid in full by your payment due date).
- Currently, the Chase Ink Bold has a flexible spending limit whereby you are allowed to go over your preset spending limit. The new Chase Ink Bold will have a stated credit access line (aka a credit line/limit) that will be shown on your monthly statement.
In summary, if you pay your balance in full every month and do not go over your stated credit access line, then these changes do not affect you. This looks like Chase’s attempt to slowly transform the Chase Ink Bold into a Chase Ink Plus, which makes sense since only the Chase Ink Plus and Chase Ink Cash business cards are currently available for new applications.
